Coinone Exchange has Opened a New Platform in Indonesia

Expanding trading space

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South Koreas third biggest crypto exchange Coinone is launching an exchange in Indonesia. The exchange will start trading with six digital currencies but will add more as trading goes on. The exchange company made the announcement yesterday that it was opening a new platform in Jakarta Indonesia making it the first top South Korean exchange to enter the global market.

Coinone has a trading volume of 63 million dollars in a day making it the third largest in South Korea after Upbit and Bithub. The company has also diversified to operate a Blockchain 4D zone known as Coinone Blocks which has a walk-in customer consultation counters.

Alan Song who will be the CEO of Coinone Indonesia stated that:

“Coinone Indonesia will operate as a platform that will introduce people to the concept of Blockchain and digital currencies. It will also enable users to access different types of digital assets in a quick and safe way.”

Coinone announced that Coinone Indonesia would offer Bitcoin, Bitcoin cash, Ethereum, Ethereum Classic, Litecoin, and Quantum. They went on to clarify that they will also be adding other coins in the future according to their high technological standards of examination. The Indonesian branch is likely to add Ripple, Iota and Bitcoin Gold which are supported by Coinone in South Korea.

The company intends to have a one month pre-registration period which started yesterday on 16th April. During the pre-registration, only email addresses will be required. The exchanges indent to start its operations on 24th May for the pre-registered users but will have its official launch in June. According to the exchange:

“We will also allow non-Indonesian nationals to join the exchange but after the pre-registration period because foreigners will require a separate examination process which will include the use of passports and non-face-to-face certification process.”

After the pre-registration, there will be an airdrop event done for the pre-registrants. In the event, more than 10 million rupiahs worthy of digital currency will be given through lottery for the pre-registered customers. More to that there will be also 10 free coupons which will be given immediately after completion of the self-evaluation process. The Indonesian branch stated that the lucky 10,000 people who will have applied for the pre-registration would be selected to get a trading fee of 0% coupon.

South Korean Exchanges are doing well in the crypto markets, and they have even accepted to do self-regulation in South Korea.

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